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Economic optimism is at a three year low but Londoners are less pessimistic

Economic optimism in Great Britain has fallen to its lowest point since December 2008

Just 16% believe the economic condition of the country will improve in the next twelve months, while almost six in ten (57%) think that it will get worse. The Economic Optimism Index of -41 (improve minus get worse) is the lowest since December 2008.

However, whilst remaining on the whole negative, those living in Greater London remain more optimistic about Britain’s economic outlook than those living in other regions

20% of Londoners believe the economic condition of the country will improve in the next twelve months and around half (48%) think that it will get worse. The Economic Optimism Index for London is -28 (improve minus get worse)

“London is the only region which has seen house price growth over the past 12 months, and 2012 is Olympic year...but Londoners’ outlook continues to be dragged down by the wider economic environment as well as increasing unemployment in the Capital.”

Improve

Stay the same

Get worse

Net Economic Optimism

Base

GB Total (%)

16

25

57

-41

(1,002)

Greater London (%)

20

25

48

-28

(120)

South (incl. London) (%)

16

27

53

-38

(355)

Midlands (%)

19

23

56

-37

(313)

North & Scotland (%)

12

24

60

-48

(334)

Ipsos MORI interviewed a representative sample of 1,002 adults aged 18+ across Great Britain. Interviews were conducted by telephone 22-24 October 2011. Data are weighted to match the profile of the GB population.

Some international context:
17% of the GB General Public would describe the current economic situation in Great Britain as “very good” or “somewhat good”
This compares with:
65% in China
63% in Germany
61% in Australia
____

15% in United States
8% in Japan
7% in France

(Rating their own country’s economic situation as “very/somewhat good”)

Ipsos interviewed a representative sample of c.1,000 adults (aged 18+ in Canada & US and 16+ elsewhere) in each of 26 countries between 9th and 19th October via the Ipsos Online Panel. Data are weighted to match the profile of the population.